The Wisconsin Public Service Commission quickly and forcefully shot down Thursday a request to set aside the cost savings from shutting down the Pleasant Prairie power plant until We Energies' next rate case.

Three groups that represent customers contended that setting aside the money would ensure that the savings go to customers and not stockholders.

Their request was turned down unanimously by the three commissioners.

The PSC knew that We Energies would need to manage its costs when the commission approved a rate freeze through 2019, said Lon Roberts, chairman of the commission.

It is very possible that We Energies’ current rates are too low, said Commissioner Mike Huebsch, and that it was expected the utility would need to make some significant decisions during the rate freeze.

The Pleasant Prairie power plant, which could generate 1,200 megawatts of electricity, was shut down in April.

“I look at this as a business decision,” Huebsch said.

The three groups were the Citizens Utility Board, which represents residential and small commercial customers; the Wisconsin Industry Energy Group, which represents large business customers; and the Wisconsin Paper Council.

We Energies contended that their request would unravel the rate freeze approved by the commission in September.

In its response filed this month, We Energies also noted that any earnings above a cap are shared or returned to customers through an agreement that was extended as part of the rate freeze.

The utility also said it would be forced to seek a rate increase if the PSC approved the request to set aside the cost savings from the Pleasant Prairie plant.

We Energies estimated last year that its current rates would be $114 million below its costs during the rate freeze and that it would need to find cost savings to offset the shortfall.

The staff of the Public Service Commission put the projected shortfall at $15.3 million.

The consumer groups estimate that We Energies could save $80 million over two years from shutting down the Pleasant Prairie power plant, excluding costs associated with the shutdown.

We Energies put the potential savings at $50 million over two years — after taking into account an estimated $35 million in costs, such as employee severance costs and the write-off of obsolete inventory, in shutting down the plant.